Date:20/07/2008 URL: http://www.thehindu.com/2008/07/20/stories/2008072056021700.htm

Business

‘Not bound by RIL’s allegations’

NEW DELHI: A day after the collapse of deal between South Africa’s MTN and RCom, an Anil Ambani company on Saturday charged Mukesh-led RIL with causing substantial harm to it as a majority shareholder in the Indian telecom entity and asserted its rights to claim damages.

AAA Communications, a private company of Anil Ambani that holds 63.38 per cent equity in RCom, on Saturday wrote to RIL claiming it was “free to and shall deal with RCom shares as it deems fit.”

An RCom spokesperson, however, declined to comment when asked about the non-compete agreement, citing which RIL had initiated the arbitration process against RCom by nominating a former Supreme Court judge Justice B. P. Jeevan Reddy as an arbitrator on July 17.

A spokesperson of RIL declined to comment immediately on the letter from the Anil Ambani firm. — PTI